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Veterans Have Incentive to Start Small Businesses
Published on Aug 5, 2011
Read our article, 'Veterans Have Incentive to Start Small Businesses' at 'Time to Start Up,' the small business blog by BizFilings.
Good news is on the way for veterans who are looking to start a small business in Illinois. Governor Pat Quinn recently signed legislation to boost small businesses owned by Illinois Veterans.
The new law will have the state set an annual goal of 3 percent of every state contract to be set aside for businesses owned by veterans and service-disabled Veterans.
"Veterans who have taken the initiative to start small businesses and help create jobs should be supported when competing for government contracts," said Governor Quinn.
Taking effect immediately, the law is helping small businesses, that are owned 51 percent or more by veterans, compete in the Illinois bidding process.
Other businesses with movements to employ veterans include Humana, which recently announced its new goal to hire 1,000 veterans or their spouses across the company, and to invest $1 million over the next two years to entrepreneurship programs for veterans, according to the Courier Journal.
The movement comes in unison with Humana CEO Mike McCalllister's appearance with President Barack Obama, who is promoting the hiring of 100,000 veterans by 2013, according to the news source.